Aditya Birla Nuvo Ltd has announced that the Company has acquired 35,87,500 equity shares constituting 50.0001% of the paid up capital of Birla Sun Life Distribution Company Ltd (BSDL) held by Sun Life (India) Distribution Investments Inc, Canada and therefore BSDL has become a wholly owned subsidiary of the Company.
This will bring synergy and synchronization in the business of Broking & Distribution in the financial services.
Source: Equity Bulls